CAPIX vs. JPHSX

Last updated Jun 4, 2026

CAPIX (Calamos Aksia Alternative Credit and Income Fund Class I) and JPHSX (JPMorgan Floating Rate Income Fund) are both Bank Loan funds. Over the past year, CAPIX returned 7.44% vs 3.27% for JPHSX. At a 0.14 correlation, their price movements are largely independent. CAPIX charges 1.25%/yr vs 0.75%/yr for JPHSX.

Performance

CAPIX vs. JPHSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos Aksia Alternative Credit and Income Fund Class I (CAPIX) and JPMorgan Floating Rate Income Fund (JPHSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAPIX achieves a 2.19% return, which is significantly higher than JPHSX's 1.20% return.

CAPIX

• 1D: 0.09%
• 1M: -0.38%
• YTD: 2.19%
• 6M: 2.81%
• 1Y: 7.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JPHSX

• 1D: -0.13%
• 1M: 0.48%
• YTD: 1.20%
• 6M: 1.69%
• 1Y: 3.27%
• 3Y*: 5.41%
• 5Y*: 3.88%
• 10Y*: 3.80%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CAPIX vs. JPHSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CAPIX Calamos Aksia Alternative Credit and Income Fund Class I	2.19%	7.43%	8.60%	3.02%
JPHSX JPMorgan Floating Rate Income Fund	1.20%	0.89%	7.14%	3.91%

Correlation

The correlation between CAPIX and JPHSX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since Aug 15, 2023	0.14

Return for Risk

CAPIX vs. JPHSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CAPIX

CAPIX Risk / Return Rank: 98
CAPIX Sharpe Ratio Rank: 99
CAPIX Sortino Ratio Rank: 98
CAPIX Omega Ratio Rank: 99
CAPIX Calmar Ratio Rank: 98
CAPIX Martin Ratio Rank: 98

JPHSX

JPHSX Risk / Return Rank: 40
JPHSX Sharpe Ratio Rank: 31
JPHSX Sortino Ratio Rank: 22
JPHSX Omega Ratio Rank: 73
JPHSX Calmar Ratio Rank: 45
JPHSX Martin Ratio Rank: 31

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CAPIX vs. JPHSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos Aksia Alternative Credit and Income Fund Class I (CAPIX) and JPMorgan Floating Rate Income Fund (JPHSX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CAPIX	JPHSX	Difference
Sharpe ratio: Return per unit of total volatility	4.53	1.61	+2.92
Sortino ratio: Return per unit of downside risk	6.84	1.96	+4.88
Omega ratio: Gain probability vs. loss probability	3.07	1.48	+1.59
Calmar ratio: Return relative to maximum drawdown	8.15	2.56	+5.59
Martin ratio: Return relative to average drawdown	39.65	7.14	+32.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CAPIX vs. JPHSX - Sharpe Ratio Comparison

The current CAPIX Sharpe Ratio is 4.53, which is higher than the JPHSX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of CAPIX and JPHSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CAPIX	JPHSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.53	1.61	+2.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.72	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.04	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.01	1.09	+1.92

Drawdowns

CAPIX vs. JPHSX - Drawdown Comparison

The maximum CAPIX drawdown since its inception was -1.96%, smaller than the maximum JPHSX drawdown of -20.95%. Use the drawdown chart below to compare losses from any high point for CAPIX and JPHSX.

Drawdown Indicators

	CAPIX	JPHSX	Difference
Max Drawdown Largest peak-to-trough decline	-1.96%	-20.95%	+18.99%
Max Drawdown (1Y) Largest decline over 1 year	-0.94%	-1.28%	+0.34%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.10%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-6.84%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-20.95%	—
Current Drawdown Current decline from peak	-0.66%	-0.13%	-0.53%
Average Drawdown Average peak-to-trough decline	-0.26%	-1.01%	+0.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.19%	0.46%	-0.27%

Volatility

CAPIX vs. JPHSX - Volatility Comparison

Calamos Aksia Alternative Credit and Income Fund Class I (CAPIX) has a higher volatility of 0.78% compared to JPMorgan Floating Rate Income Fund (JPHSX) at 0.34%. This indicates that CAPIX's price experiences larger fluctuations and is considered to be riskier than JPHSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAPIX	JPHSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.78%	0.34%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	1.56%	1.37%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	1.69%	2.07%	-0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.57%	2.27%	+0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.57%	3.65%	-1.08%

CAPIX vs. JPHSX - Expense Ratio Comparison

CAPIX has a 1.25% expense ratio, which is higher than JPHSX's 0.75% expense ratio.

Dividends

CAPIX vs. JPHSX - Dividend Comparison

CAPIX's dividend yield for the trailing twelve months is around 8.66%, more than JPHSX's 7.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAPIX Calamos Aksia Alternative Credit and Income Fund Class I	8.66%	7.18%	4.42%	1.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JPHSX JPMorgan Floating Rate Income Fund	7.01%	6.84%	9.21%	7.94%	5.12%	3.34%	3.88%	5.27%	4.57%	3.78%	4.49%	4.52%

Frequently Asked Questions

Can I hold both CAPIX and JPHSX in my portfolio?

CAPIX and JPHSX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CAPIX or JPHSX?

CAPIX has higher volatility (0.78%) compared to JPHSX (0.34%). In terms of maximum drawdown, CAPIX dropped -1.96% vs JPHSX's -20.95%.

Which has better risk-adjusted returns?

CAPIX currently has the higher Sharpe Ratio (4.53 vs 1.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.